Gas prices - don't ya just love it !!!!!!

[dragon813gt]

You must live in the wrong part of the state. It's been below $2 in the SE for over a week :laugh:

[Down South]

Talking to a vendor today. I haven't checked the numbers to see if he was correct but he claimed that oilfield related job loss is 500,000 at present, That's 1/2 million folks out of work due to low oil prices.
6 months from now I expect that to increase another 250,000, maybe more.

[Down South]

I took this Picture Monday at Buc-ees. Nice on the pocketbook but I wonder if I will still have a job by the end of next month to be able to enjoy the low prices.

[MT Gianni]

Not just you the entire economy is built around our resources and we could all be in for some hard times. If anyone doesn't think so follow the stock market and it follows oil. Those in the Market are those who hire and fire and add on jobs.

[waksupi]

Although petrol sector will loose some jobs, putting more money in the pocket of the consumer should create a market for other goods in other sectors, thus, creating new jobs. Everyone needs to take a turn making a buck.

[fatnhappy]

How many of you old timers remember people complaining about low energy prices were ruining the economy in the 50s? Yeah, that's what I thought.

The entire economy benefits from the low cost of energy. Everything from granny on social security to America's farm industry. You pay for high oil prices in everything from the roast beef for dinner to the precision cut boolit mould. As a whole we benefit tremendously from low energy costs.

[dtknowles]

I think I have a solution to low oil prices. We bomb Saudi oil wells. Russia, Iran, and Venezuela will be very happy but our Japanese and European allies won't like it nor will China. At least then we could get back to fracking.

Tim

[bangerjim]

These low gas prices = low oil prices = a crashing stock market.

How 'ya like them apples?

Not me.

banger

[MtGun44]

Last time the claim was that high energy prices would run all
company's stocks down due to them spending so much on
energy.

But somehow, companies saving money on energy is going to
hurt them, too.

Not buying it. More money in people's pockets will let them buy
more stuff and the suppliers will do better.

[starmac]

The govt makes more money off of oil than anybody, so this will either slow down some gimme projects, or some folks will get some overtime printing money.
Theire will be lots of business hurt from oil hitting bottom besides oil related businesses, some will see some gains, but most still have to have customers, with a little scrath in their pockets. I saw an article where the auto makers are looking at a lean couple of years, I betting they are not the only ones.

[Blackpowder]

In Sweden the gas price is 12,20 Swedish Kronor for 1 Liter.
This is about 5,38 US Dollars for one Gallon.
More than 60% is straight tax.
I am not complaining though, I have enough Money to feed my family and by all the gunpowder I need

[daniel lawecki]

Was a $1.28 filled up at $1.32 yesterday.

[AK Caster]

Last time the claim was that high energy prices would run all
company's stocks down due to them spending so much on
energy.

But somehow, companies saving money on energy is going to
hurt them, too.

Not buying it. More money in people's pockets will let them buy
more stuff and the suppliers will do better.

Agreed. I am sure all the shipping companies (UPS, FedEx, etc) and truckers hauling freight hate the idea of low fuel prices. Then we have all the companies that make plastics. And don't forget all the tire companies and companies that sell petro products such as motor oils.

Stock market going down? Suck it up. There are no sure bets on the casino floor. Investors have become an interesting lot. So many claim their portfolio is "aggressive" but then whine like a baby when they lose money.

[dtknowles]

These low gas prices = low oil prices = a crashing stock market.

How 'ya like them apples?

Not me.

banger

Did you really mean low gas prices drive down oil prices? I think that is wrong, low demand for oil drives to make gas and other petroleum based products drives down oil prices which makes gas cheaper. I know it is a bit of a chicken and egg thing but there has not been a big drop in U.S. gasoline consumption so that is unlikely to be the driver of low oil prices.

Slowing of growth of the developing world it what is driving down stock prices, low oil prices are one of the results, that causes a drop in profits in banks with loans to oil related business and of course a drop in profits in oil exploration companies.

I think your chain of causation is messed up. Not that that matters to those who are being hurt. It is all China's fault

Tim

Tim

[dragon813gt]

So what, the stock market is down. Hope you have money to invest when it's at the bottom and then ride it back up to the top. No like this hasn't happened many times before.

[dtknowles]

So what, the stock market is down. Hope you have money to invest when it's at the bottom and then ride it back up to the top. No like this hasn't happened many times before.

How do you pick the bottom?

Tim

[snowwolfe]

Same way you do the top, guess

[bangerjim]

Did you really mean low gas prices drive down oil prices? I think that is wrong, low demand for oil drives to make gas and other petroleum based products drives down oil prices which makes gas cheaper. I know it is a bit of a chicken and egg thing but there has not been a big drop in U.S. gasoline consumption so that is unlikely to be the driver of low oil prices.

Slowing of growth of the developing world it what is driving down stock prices, low oil prices are one of the results, that causes a drop in profits in banks with loans to oil related business and of course a drop in profits in oil exploration companies.

I think your chain of causation is messed up. Not that that matters to those who are being hurt. It is all China's fault

Tim

Tim

NO......absolutely not!!!!!!! Common sense: Low gas prices are because of (=) low oil prices which drives the markets down. Gas demand may be down but that and low prices = reduced taxes for city/state/fed. Which leads to even worse roads and bridges. Which leads to higher auto repair bills. Which leads to less $$ in your pockets. Then there are other economic problems created in manufacturing that I will not even get into.

So those on here jumping for joy over $2 or less gas need to realize that will come back and bit them in the keister big time! Most will never realize those few dollars in their pocket from cheaper gas because they have $10K or more in credit card debt to pay off with that money....not buy more stuff! (I have ZERO).

It is a vicious economic spiral any way you look at it. And the "butterfly effect" is alive and well.

$3/gallon gas is actually a good thing for the economy today.

banger

[elkhuntfever]

Seeing pictures of gas prices in Houghton Lake Michigan this week. Around 60 cents @ gal.

[jcwit]

Per GasBuddy.com the current cheapest price of gas at Houghton Lake is $1.30.

That low price only lasted for about a day.

http://www.gasbuddy.com/GasPriceMap